HomeMarket News‘This century is for India,' says Kaku Nakhate of BofA; foresees rise to third-largest economy soon
‘This century is for India,' says Kaku Nakhate of BofA; foresees rise to third-largest economy soon
Kaku Nakhate, President and Country Head–India at Bank of America, told CNBC-TV18 that the election results back ongoing policy measures and emphasised the need for the government to continue its reform efforts.
Bank of America (BofA) believes that India is on track to become the world's third-largest economy, according to Kaku Nakhate, President and Country Head–India at the investment bank.
Nakhate noted that the recent election results support the continuation of existing policy measures and stressed the importance of the government maintaining its focus on reforms.
“The growth of the Indian economy can be relentless, and I strongly believe that this century is for India,” she added.
She also mentioned that foreign direct investment (FDI) is expected to increase significantly, and foreign portfolio investment (FPI) flows are anticipated to return to the Indian market. Nakhate explained that recent FPI outflows from India are largely due to broader emerging market trends.
Also Read: BofA Sec sees Nifty at 24,500 by year-end, remains bullish on capex theme
“If I were to give statistics, in the last 10 years FDI flows went up to $596 billion, which is double of the previous decade. I feel that in the next five years, we will have $500 billion. And so that is why I am very bullish, both on FDI, FII and of course, the domestic flows continue with systematic investment plans (SIPs) totalling $2.4 billion in just April itself,” Nakhate added.
Also Read: 400-paar win for BJP could ring in 'higher for longer' party on D-Street: Raamdeo Agrawal
For more details, watch the accompanying video
Catch all the latest updates from the stock market here
Nakhate noted that the recent election results support the continuation of existing policy measures and stressed the importance of the government maintaining its focus on reforms.
“The growth of the Indian economy can be relentless, and I strongly believe that this century is for India,” she added.
She also mentioned that foreign direct investment (FDI) is expected to increase significantly, and foreign portfolio investment (FPI) flows are anticipated to return to the Indian market. Nakhate explained that recent FPI outflows from India are largely due to broader emerging market trends.
Also Read: BofA Sec sees Nifty at 24,500 by year-end, remains bullish on capex theme
“If I were to give statistics, in the last 10 years FDI flows went up to $596 billion, which is double of the previous decade. I feel that in the next five years, we will have $500 billion. And so that is why I am very bullish, both on FDI, FII and of course, the domestic flows continue with systematic investment plans (SIPs) totalling $2.4 billion in just April itself,” Nakhate added.
Also Read: 400-paar win for BJP could ring in 'higher for longer' party on D-Street: Raamdeo Agrawal
For more details, watch the accompanying video
Catch all the latest updates from the stock market here
(Edited by : Shweta Mungre)
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